Bonus season in the legal industry is looking exceptionally rewarding this year, especially for associates at Fried Frank. Following the trend set by Cravath, which recently announced substantial year-end and special bonuses, Fried Frank has not only matched these amounts but has introduced additional premium bonuses for its exceptionally industrious associates.

The firm, which has offices in New York, Washington, DC, and London, reported a staggering $1,136,370,000 in gross revenue for 2024, with profits per equity partner reaching an impressive $5,184,000, as per the latest Am Law 100 data. This financial robustness is reflected in their generous bonus scale for this year.

The bonus structure at Fried Frank is designed to reward hard work and dedication. Associates who have recorded at least 1850 billable hours are eligible for the year-end and special bonuses. However, those who have gone above and beyond, reaching 2200 or even 2450 billable hours, will receive premium bonuses ranging from $3,000 to a whopping $34,500 above the standard market bonuses. This tiered approach not only acknowledges the effort of their associates but also sets a new benchmark in associate compensation among top law firms.

All bonuses are scheduled to be disbursed before the end of December, ensuring that associates can enjoy their rewards as they head into the new year.

As the legal community watches these developments, Fried Frank’s move could set off a chain reaction among other top-tier firms, who may feel the pressure to offer similar or even more competitive compensation packages to retain and attract top talent.

For those following the developments in Biglaw compensation, the excitement of bonus season is far from over. Associates across the industry are encouraged to share updates and compensation announcements from their firms, contributing to a broader understanding of the evolving landscape in legal remunerations.

Stay updated with the latest in legal industry compensation by signing up for bonus alerts, and ensure you don’t miss any critical updates as firms continue to announce their end-of-year bonuses.